Economic Survey of Latin America and the Caribbean 2001-2002

image of Economic Survey of Latin America and the Caribbean 2001-2002

This survey consists of two distinctive parts. The first part examines main aspects of the regional economy, while the second part contains an analysis of the individual countries in Latin America and the Caribbean. The part on the regional economy covers the situation in the first semester of 2002 and the prospects for the year as a whole. It also analyzes various aspects of the regional economy in 2001, including macroeconomics policies and reforms, the performance of the internal economy, and the external sector. The part on individual countries covers 20 nations in Latin America and the English-speaking Caribbean. It covers the period 2001 and early 2002, revealing country reports with tables and figures showing main economic indicators.




The Cuban economy slowed down significantly, as GDP grew by 3% compared to 5.6% the year before, while per capita GDP increased by 2.6%. The faltering international economy put downward pressure on the value of merchandise exports, and the terrorist attacks of 11 September caused a slump in tourism. The scarcity of foreign exchange made it necessary to restrict imports to prevent the balance-of-payments current-account deficit from widening, and the commercial exchange rate depreciated by 24%. Domestic prices, however, remained largely stable.


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